Showing 1 - 10 of 385
Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries. For example, it constitutes roughly 10% of the US Federal Reserve's main monetary aggregate, M2. Yet, it has important drawbacks. First, it can help...
Persistent link: https://www.econbiz.de/10013053848
This paper shows that it is possible to analyze equilibrium inflation determination without any reference to either money supply or demand, as long as one specifies policy in terms of a Wicksellian' interest-rate feedback rule. This approach should be of considerable interest, as central banks...
Persistent link: https://www.econbiz.de/10013313234
of emigration as well as immigration. We focus on Europe and compare the outcomes for large Western European countries … inequality because of emigration. Whereas, contrary to the popular belief, immigration had nearly equal but opposite effects … the wage effect of emigration, instead …
Persistent link: https://www.econbiz.de/10013134804
Using novel data on 50,000 Norwegian men, we study the effect of wealth on the probability of internal or international migration during the Age of Mass Migration (1850-1913), a time when the US maintained an open border to European immigrants. We do so by exploiting variation in parental wealth...
Persistent link: https://www.econbiz.de/10013101829
In the American South, post-bellum economic stagnation has been partially attributed to white landowners' access to low-wage black labor; indeed, Southern economic convergence from 1940 to 1970 was associated with substantial black out-migration. This paper examines the impact of the Great...
Persistent link: https://www.econbiz.de/10013101831
We exploit migration patterns from the UK to Australia, South Africa, and the US to investigate whether a person's decision to smoke is determined by culture. For each country, we use retrospective data to describe individual smoking trajectories over the life-course. For the UK, we use these...
Persistent link: https://www.econbiz.de/10013082153
to develop longitudinal measures of emigration and to assess how social ties and individual economic position predict … emigration. Cox proportional hazards models indicate that the propensity to emigrate is particularly pronounced for those with … those with relatively short durations in the country, have substantially higher emigration rates than later …
Persistent link: https://www.econbiz.de/10013000505
Although a sizable fraction of the Puerto Rican-born population moved to the United States, the island also received large inflows of persons born outside Puerto Rico. Hence Puerto Rico provides a unique setting for examining how labor inflows and outflows coexist, and measuring the mirror-image...
Persistent link: https://www.econbiz.de/10012773152
We consider the welfare effects of the emigration of workers who produce a public good (knowledge). We distinguish … between the knowledge diversion and knowledge creation effects of such emigration, and show that the remaining residents of a … country can gain from emigration, even when tastes for knowledge goods exhibit a kind of 'home bias'. In contrast to existing …
Persistent link: https://www.econbiz.de/10012778122
performance at the local level. We instrument emigration intensity with local temperature shocks during an inflection point of the … be partially attributed to the reduction in the share of the landed elites in high-emigration regions. We show that the …
Persistent link: https://www.econbiz.de/10012945603